EIOPA seeks views on a more proportionate and outcomes-focused supervision of sales of insurance-based investment products
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EIOPA opens a consultation on a supervisory statement asking national supervisors to check whether sales processes and pre-contractual disclosures for insurance-based investment products (IBIPs) actually work. It seeks to simplify the customer journey without creating new requirements.
Key points
- Identifies mechanical processes, lengthy disclosures and assessments that do not shape the sale
- More information or more steps do not necessarily improve consumer outcomes
- Asks for concrete examples of unnecessary complexity or duplication
- Responses may inform work on the Retail Investment Strategy
Who is affected
IBIP manufacturers and distributors, national supervisors, consumers
Deadlines
Responses by 4 January 2027 (ideally by end-November 2026); final version expected in Q1 2027
Plain-language version
IBIPs are insurance products that also work as investments, like some life savings policies. EIOPA, the EU watchdog for insurers and pension plans, has noticed that selling them involves lots of paperwork and questionnaires that change nothing, and is asking how to make the process more useful to customers. Comments are open until 4 January 2027; the final version is due in early 2027.
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